Shire and Santaris extend strategic alliance

Danish privately held clinical-stage biopharmaceutical company Santaris Pharma says that its long term partner, Ireland-headquartered Shire (LSE: SHP) has extended the existing partnership in the rare genetic disease space.

Under the terms of the extended agreement, Shire will have the right to nominate additional collaboration targets for drug discovery and development. Santaris will receive an undisclosed upfront payment and, consistent with the initial accord, is eligible for research support, preclinical, clinical and sales milestones and royalties on each product emerging from the collaboration.

Adds to 2009 accord